Transformational Global eBusiness via Social Media
20th Aug. 2016
HK PolyU
Dr. Bryan Wong, PhD LLM
eBusiness Entrepreneur www.drbryanwong.com
Transformational: 2. Anyone, Anywhere, Anytime
• No traditional constrain, e.g. factory, office, assets & employee
• Riding on mobile networking boom
• Apps & Social Media
• So suddenly
Global Matching for Common Interests• Before you want• Big Data• Tickets booked• VIP package planned
2012World’s Leading Travel Booking Site
2013 North America’s Leading Travel
Agency
World’s Leading Travel Club
2014 Africa’s Leading Travel Club
Europe’s Leading Travel Club
Asia’s Leading Online Travel Agency
Asia’s Leading Travel Club
United States’ Leading Travel Agency
North America’s Leading Travel Club
North America’s Leading Online Travel Agency
World’s Leading Travel Club
World’s Leading Online Travel Agency
2011 2012 2013 2014 2015 2016Revenue (USD)
$91M
#94
$143M
#75
$195M
#65
$352M
#47
$693M
#32
WORLDVENTURES
Source:www.directsellingnews.com
Revenue and Ranking by DSN
Social Media, not just for Social
•3S: Social, Sharing, Sentimental
•Purposes….group buying, common interest
•User experience: Key Opinion Leaders (KOL)
But Never “Sellcial” Media
“Sellcial” media
•No interpersonal relationship
• Frequently repeated updates
• lengthy-words
• flooding photos
•price disclosed
•Brainwashing
• Sell by “Showing everything”
KOL
• Previously, like Pop-stars, Movie
stars
• Evangelism since Apostles age
• Good news messengers
• Words of Mouth
• Experience & Emotional
• Organic growth community
• Enjoyment of sharing, benefits…
Why it has to be real?
• “I also believe (in a social media world) that only sharing happy or successful stories gives a distorted and unbalanced view of real life.
• …..Professionally, as charismatic business leaders we share stories to educate, entertain and encourage people to go into battle alongside us, believe in us and even buy from us.” Andy Harrington
eBusiness via Social Media
Advantages:
• Real time, instant information
• Multi-channels, viral spreading
• Fast spreading, cross boundary
• Free $
• Reach out to unknown/potential customers, i.e. cold market
Changes of Advertising media
Traditional Advertising
• TV, Newspapers
• General, all age, gender, race, culture, religion, income, etc.
Social Media Targeted Advertising
• Pop-up window
• Sponsored videos
• Specific audiences
Social Media Soft Marketing
• Personal Post
• Local Real experience
• Global Followers
• Likes
Targeted ads on FB really aren’t so Targeted.
• Company spending US$ 8B in ads, 30% in online ads, saying that hyper targeting on FB did not prove as effective as the company thought it would be.
• “we targeted too much and went too narrow.” CMO P&G
Social Media vs Targeted Advertising
• Soft selling vs Explicit (pop-up windows adv, do you watch it?)
• Innovative vs Expected (No curiosity)
• “Don’t Let Them Realize What You Are Doing”
• Real neighborhood vs Celebrity (Who is more real?)
• Quality vs Price oriented
• Comment/Feedback/Feeling vs Slogan/ “madeup story”
Successful Social Media Marketers are…
• Impressive personal branding
• Educational
• Story telling
• Image Director
•KOL
• Influential Entrepreneur
Social Media is Ecosystems
• Middle class hungry for many WANTS
• Membership, Bulk Purchase, More bargaining power, Price decrease
• E.g. Travelling, Dining, Education & Signature Events
What’s NEXT?Sir Richard Branson said, ….
https://www.facebook.com/michael.sloggett.3/videos/10157176995845174/?__mref=message_bubble